"Accessories are so important. They're really the foundation," Francisco Costa told ELLE.com last night at the 16th annual Accessories Council Excellence (ACE) Awards in New York. "When I start [designing] the collection, I start with the shoes. You know the character of a woman through her shoes. It's very telling." No wonder Costa was being honored as the Council's Designer of the Year, alongside Calvin Klein Collection menswear design director Italo Zucchelli and Ulrich Grimm, creative director of Calvin Klein men's and women's shoes and accessories.

Presenter Olivia Wilde, in a Calvin Klein Collection dress and Vince Camuto accessories, also professed to be a fan of footwear. "I'm a sucker for shoes," she admitted.

All this talk of accessories inspired a few fantasies. Linda Fargo, Bergdorf Goodman SVP, fashion office and store presentation, named "two Verdura cuffs" as her dream accoutrements. "They're black, like glossy ebony, [with] the Maltese cross on top. He [Duke Fulco Di Verdura] designed those cuffs for Coco Chanel back in the day. They're just a forever chic kind of bracelet." Pamela Love, meanwhile, had something a little harder-edged in mind. She fantasized about "entirely metal combat boots encrusted in diamonds."

But back to reality: A few attendees named their favorite accessory currently in their closets. For Wilde, it's "an old leather Italian hat, like a Borsalino hat from Rome from a long time ago." For Costa, it's "an Hermès folded wallet with my name stamped on it," which was a gift from his partner. "It was very sweet." And for Love, it's "my engagement ring and my wedding band, [which] I designed. It's white gold with turquoise, my favorite stone. My husband has the matching one."